The global data warehouse as a service (DWaaS) market is estimated at a market value of US$ 4.5 billion in 2022 and is expected to witness a strong growth rate of around 21% during the forecast period. DWaaS is an outsourcing method where the customer provides information and pays for its management, while the service provider organizes & manages the hardware & software resources that are required by the information management system.
The increasing role of business intelligence and data analytics in enterprise management, growing dependence on data-driven decision-making to improve business performance, and the requirement for regulatory governance and security are some of the key factors anticipated to propel the demand for Data Warehouse as a Service (DWaaS) during the forecast period. Moreover, the large amount of structured and unstructured data generated across a variety of businesses, including BFSI, retail and eCommerce, government, open space, and manufacturing is also expected to further drive the demand for Data Warehouse as a Service (DWaaS) across the globe.
BFSI Segment holds a Major Share of the Global DWaaS Market on account of Highly Generated Consumer Information
The BFSI segment is expected to dominate the global data warehouse as a service (DWaaS) market, as this industry works with a significant volume of regularly generated consumer information. Businesses in the BFSI sector need data warehousing solutions in order to automatically track the behavior and performance of the information that is stored in their systems due to the enormous volume of structured and unstructured data that exists in this industry.
Additionally, banking and financial institutions require data to create business plans and enhance operational efficiency.
For instance, institutions like Morgan Stanley, Credit Suisse, and Bank of America are implementing Big Data initiatives. The use of DWaaS (Data warehouse as a service) by financial consulting firms across the globe allows them to avoid the difficulties of updating their on-premise hardware and software.
Asia Pacific to Grow at a higher CAGR due to Increasing Investments and Technological Advancements
Asia Pacific is expected to gain substantial growth of data warehouse as a service market during the forecast period owing to the increasing investment and technological advancements in the region. BFSI is one of the major industry verticals in APAC followed by manufacturing and E-Commerce. Companies operating in the region are focusing on customer service to drive competitive differentiation and revenue growth. Moreover, North America is dominating the global data warehouse as a service (DWaaS) market due to the early adoption of DWaaS in the region. Organizations in the US are quick to adopt analytics solutions across various verticals including retail, BFSI, healthcare, and others. The emergence of cloud solution providers and the growing demand for managing operational information is anticipated to further drive the growth of the data warehouse as a service (DWaaS) market in the region.
In Europe, the data warehouse as a service market is set to experience robust growth owing to the well-developed healthcare industry and the presence of a large number of IT enterprises. UK and France have a good healthcare infrastructure providing substantial growth to the DWaaS market in these respective countries. Apart from the major European countries, Switzerland, Denmark, the Netherlands, Norway Ireland, Belgium, and Hungary are some other countries of Europe that are providing a significant contribution to the growth of the data warehouse as a service (DWaaS) market.
Market Structure and Competitive Landscape
The global data warehouse as a service (DWaaS) market is fragmented in nature with the presence of various players in the market. Some of the prominent players operating in the global data warehouse as a service market are Amazon Inc, IBM Corp, Microsoft Corp, Google LLC, Oracle Systems Corp., SAP SE, Snowflake Computing Inc., Microfocus International Plc, Teradata Corp, Cloudera Inc., Pivotal Software Inc., Yellowbrick Data Inc., Veeva Systems Inc., Actian Corp., Marklogic Corp., Netavis Software, and Accur8 Software Solutions LLC among others.
Amazon Inc, IBM Corp., Microsoft Corp., and Snowflake are some of the prominent players in the global data warehouse as a service market and together hold a prominent share of the DWaaS market. Moreover, these players adopt various strategies including mergers and acquisitions, partnerships and collaborations, and technology upgradations which directly results in fuelling the growth of the global data warehouse as a service market.
- In May 2022, Dell entered into a strategic partnership with Snowflake Inc to ease access to on-premises data. The partnership will help Snowflake Data Cloud’s tool to on-premises object storage.
- In May 2021, WPP announced a partnership with Microsoft to creatively transform content production with the launch of cloud studio.
Key Market Segmentation
RationalStat has segmented the global data warehouse as a service (DWaaS) market on the basis of type, application, vertical, deployment mode, organization size, and region.
- By Type
- Enterprise DWaaS
- Operational data storage
- By Application
- Business Intelligence
- Customer Analytics
- Data Modernization
- Operational Analytics
- Predictive Analytics
- By Vertical
- Energy and utilities
- Government and public sector
- Healthcare and life sciences
- IT and ITeS
- Media and Entertainment
- Retail and consumer goods
- Others (Telecommunications, etc.)
- By Deployment Mode
- Public Cloud
- Private Cloud
- By Organization Size
- Large Enterprises
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for Data Warehouse as a Service (DWaaS) manufacturers, IoT service providers, government organizations, educational organizations, regulatory agencies, end user industry, and market research firms, among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The global data warehouse as a service (DWaaS) market is expected to grow at a CAGR of around 21% during the forecast period 2022-2028.
North America is dominating the global data warehouse as a service (DWaaS) market in 2022.
The global data warehouse as a service (DWaaS) market is estimated at around US$ 4.5 billion in 2022.
The increasing role of business intelligence and data analytics in enterprise management, and the growing dependence on data-driven decision-making to improve business performance are the key drivers of the global data warehouse as a service market.
Major companies operating in the global data warehouse as a service (DWaaS) market are Amazon Inc, IBM Corp, Microsoft Corp, Google LLC, Oracle Systems Corp., SAP SE, Snowflake Computing Inc., Microfocus International Plc, Teradata Corp, Cloudera Inc, etc.